Balance of interests is the best SA gold wage talks can achieve
In the eyes of many, the South African gold mining industry has had its day. For over a decade, gold production has steadily declined. As mines have become deeper, working places are further and further away from infrastructure (and therefore less time is spent at the face), costs have spiralled, and profit margins have been squeezed, if not decimated.
Minerals Council says 75% of SA’s gold mines unprofitable
Three-quarters of SA’s gold mines are unprofitable or barely making money, says the Minerals Council SA as the sector enters wage talks that some participants hope will reflect the realities bedevilling the sector.
Wage Talks Begin in South Africa's Shrinking Gold Industry
South Africa’s biggest gold producers and mining unions start wage talks Wednesday against the backdrop of stark declines in the industry that was once the world’s largest.
SA gold sector starts wage talks today barely making ends meet
A significant increase in the wage bill was likely to push South Africa’s gold sector further into the red, said BusinessLive citing comments from the Minerals Council which said three-quarters of gold mines were unprofitable or just at break-even.
Unions table demands ahead of gold sector wage negotiations
The wage negotiation season is upon us once again the gold sector is kicking off its talks this Wednesday.